8:54 a.m. IOC's evaluation commission delivers final report. Madrid's press conference will begin shortly. A test vote will be held in about an hour.

8:38 a.m. Madrid concludes presentation. Q&A begins.

8:34 a.m. "A vote for Madrid is a vote that would foster Olympic values throughout the world. A vote, that through sport, would bring in our lives more understanding, more solidarity, and more friedship. Believe me, a vote for Madrid is a vote for the success of these Olympic and paralympic games," said King Juan Carlos I.

6:40 a.m. IOC voters are currently taking a break from hearing presentations. A press conference for Rio bid committee is expected to begin at 7:45 a.m.

6:05 a.m. Rio is wrapping up its presentation with a question and answer session with IOC voters. | Watch Rio's Presentation

5:15 a.m. Officials from Rio de Janeiro went heavy on their perceived advantage, that the Olympics have never come to South America.

Rio 2016 bid leader Carlos Nuzman used a visual aid to make his point that Latin America deserves a shot at the Olympic Games. He pointed to a map which showed the locations of games in Europe, North America and Asia and none in Africa or South America and listed each continent's histroy. Europe, 5 in Asia, 2 in Oceania, and 12 in North America, including 8 in the United States, he said.

"Now we want to bring the games to South America for first time and open the door to a new continent, one that stands ready to take the Olympic movement forward," Nuzman said.

4:50 a.m. The Japanese press conference has ended.

"Many people say you must show more passion at the presentation," said Dr. Ichiro Kono, who said that he believed Japan had done so during their presentation. He said he felt "very warm feeling" from the IOC members.

4:23 a.m. Tokyo, largely considered an underdog in the host city competition, has completed its presentation. Tokyo's delegation concentrated largely on the perils of climate change, the exclusion of people around the world, and sports doping. | Watch Tokyo's Presentation

"Sports is my life. Your vote is my final Olympic wish," said Gov. Ishihara.

A brief Q&A focused on the technical details of Tokyo's proposed Olympic facilities. The Q&A has now concluded.

3:45 a.m. Chicago has completed its presentation to the International Olympic Committee.

In a stirring and eloquent speech, President Obama urged the assembled members to "choose Chicago ... choose America."

President Obama described himself as "a passionate supporter" of the Olympic and Paralympic Games and said he looked forward to welcoming the world to the shores of Lake Michigan in 2016.

"It's a place where our unity is on colorful display."

2:30 a.m. Michelle Obama, who appeared slightly apprehensive at the beginning of her speech, slowly warmed up and gave a heartfelt speech to the assembled members.

The First Lady spoke of her roots on Chicago's South Side and her love of sports, which she shared with her father. She also returned to her theme of empowering children.

"I am dreaming of an Olympic and Paralympic Games in Chicago that will light up lives in neighborhoods all across America and all across the world; that will expose all our neighborhoods to new sports and new role models; that will show every child that regardless of wealth, or gender, or race, or physical ability, there is a sport and a place for them, too."

12:00 a.m. President Obama is scheduled to touch down in Copenhagen this morning, carrying the now-elevated hopes of Chicago -- and the increased scrutiny of the nation -- with him.

Upon his arrival Obama, along with late-add Sen. Dick Durbin, will join the First Lady, Oprah Winfrey, Mayor Daley and the rest of the Chicago delegation and travel to Copenhagen's Bella Center, where he's scheduled to present Chicago's bid at 3:50 a.m. Chicago local time.